Establishing an active and engaging presence on social media is something we help our clients with daily, and one of the most frequently asked questions we get is about which social media platforms our clients should be on.
Industry best practice would tell you, and we agree, that Facebook is a MUST – being that it’s the most popular social networking site and has the most robust system for creating digital advertisements next to Google.
But what about Instagram?
As the fastest growing social networking site with over 1 billion active monthly users, many credit unions wonder if it is a viable platform for their business, and our answer is never black or white. Instead, here are 3 things we consider when deciding if it’s right for a credit union:
1. Size of Membership
Larger credit unions who have lots of members who span every age range, and are located nationally or globally, should be active on all social media channels to be readily available to interact and communicate with their broad audience.
Small-to-medium-sized credit unions with a more centralized/local following or niche audience don’t require the same need for mass communication and can get by with one or two social platforms.
2. Industry, Member Demographics, and Target Audience
The type of industries or employee groups a credit union services and its member demographics are a big indicator of what social platforms to be on. If your member base aligns with Instagram’s user demographics, then you should be active on the platform (no matter the size of your credit union).
3. Marketing/Social Media support
Another thing to consider is the amount of social media expertise and support you have on your team to help manage multiple social channels. The more channels you add outside of Facebook, the more time and work will be required to maintain engagement and create visual content. If you’ve got the resources readily available, whether it be from a social-savvy stellar teller or agency support, then go for it!
If you find that prioritizing Facebook alone is a challenging task, then it may be best to stick to the one social platform until you feel like you’re in a place to expand and take on a new challenge.
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